Mariner Investment Group, an alternative asset manager, has named Richard Rumble, the former head of global emerging market equity prop trading at Goldman Sachs, to run a global emerging market equity portfolio on the Mariner Incubation Platform.
The platform is a multi-strategy mandate Mariner launched in April 2013 to be managed by leading investment talent sourced from the hedge fund industry.
The portfolio will be known as the Mariner INOX GEM. Today's announcement follows the firm's recent appointment of Eric Pellicciaro to manage a global macro portfolio on this new platform.
The Mariner Incubation Platform allocates capital to talent in areas that the firm considers investment opportunities primarily in the rate, equity and credit markets. Mariner provides the portfolio managers with robust infrastructure support as well as the potential to create future stand-alone advisory relationships including hedge funds. Managers on the platform oversee portfolios with initial investments ranging from USD50m to USD100m.
The Mariner INOX portfolio will employ a global emerging market strategy that capitalises on Rumble's extensive experience in emerging market equities. The fundamental, valuation-driven investment approach couples bottom-up sector and stock specific research with a top-down macro view on emerging market opportunities globally.
"Richard is a very experienced trader in global emerging market equities who has demonstrated the ability to deliver differentiated returns throughout market cycles," says Bracebridge Young, Mariner's chief executive officer. "We expect this sector will continue to offer strong risk-adjusted returns in the years ahead, given that as constituent markets develop, the capital flows and economic trends will support equity valuations. We are excited to have Richard and his team managing this portfolio on our Mariner Incubation Platform."
"Mariner's track record of building sustainable alternative investment products and service offerings that address investors' long-term needs speaks for itself," says Rumble (pictured). "Mariner's well-established institutional investor relationships and enterprise quality operational platform will provide the support necessary to grow a portfolio in the global emerging market equities space, and we look forward to the opportunity ahead."
Rumble has more than 15 years’ experience in emerging market equities. Most recently, he spent a year at BTG Pactual in London, where he was a global emerging market equity portfolio manager. Previously, Rumble was head of global emerging market equity prop trading at Goldman Sachs, a position he held for four years. Prior to Goldman Sachs, Rumble spent 11 years at UBS in London, during the last six of which he served as an emerging market equity prop trader.
Rumble is joined by Stefan Slowinski, former deputy global head of equity and credit research at Societe Generale, who will head the research effort for the portfolio, and Carter Venkat, who previously worked at Mirae Asset Investment Management and who will assist Rumble in managing the portfolio.